Most countries:
A. protect cartels.
B. have laws against firms making agreements about prices or quantities.
C. force monopolists to become duopolists.
D. protect oligopoly markets.
Answer: B
Economics
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Refer to the figure above. What is the profit-maximizing quantity that the monopolist should produce if it faces a constant marginal cost of $5?
A) 200 units B) 300 units C) 400 units D) 600 units
Economics
Refer to Figure 4-5. The figure above represents the market for pecans. Assume that this is a competitive market. If 4,000 pounds of pecans are sold
A) marginal benefit is equal to marginal cost. B) consumer surplus equals zero. C) the deadweight loss is equal to $12,000. D) the marginal benefit of each of the 4,000 pounds of pecans equals $3.
Economics